Time is running out for Joakim Noah to reach buyout agreement with Knicks

Joakim Noah has until midnight Thursday or else he's stuck with the Knicks.

That's the deadline for the exiled center to reach a buyout if he wants to sign elsewhere and be eligible for the playoffs. However, as late as Wednesday afternoon, there had been no progress in negotiations. The Knicks still didn't want to release Noah without significant money coming back in a buyout, and Noah was unwilling to surrender enough of his guaranteed contract.

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Beyond the remaining money owed for this season, Noah still has two years and almost $38 million remaining on his deal. It's unclear how much the Knicks are asking to retrieve in a buyout.

For the Knicks there's little incentive to waiving Noah because his money remains on the cap. Although buyouts of multi-year contracts are rare, there is recent precedent of a player giving up substantial money — Deron Williams surrendered $15.5 million of the $43 million remaining on his deal with the Nets in 2015.

"No updates," Jeff Hornacek said Wednesday.

Coincidentally, the Knicks will be in L.A. on Thursday, which is the same place Noah has been training since his dust-up with Hornacek hastened a mutual separation. Noah had been upset with his lack of playing time, which followed a disappointing stint in New York that included two surgeries and a 20-game PED suspension.

Joakim Noah has been exiled from the Knicks since his dust-up with coach Jeff Hornacek. (Jonathan Daniel/Getty Images)

According to sources, there are teams interested in signing Noah for the playoffs — including the Timberwolves — but only as a free agent on a minimum deal. That would require the Knicks to waive Noah before midnight Thursday. New York tried to trade Noah but his contract was deemed prohibitive without assets attached.

Enes Kanter, whose acquisition just before training camp was at least part of the reason Noah was completely cut out of the rotation, said he's been in contact with his teammate and, "I guess he's doing good. He's just working out somewhere.

"Jo' is a good guy. I like him as a person on the court, off the court, he was really nice to me. He helped me a lot and just, we talk a lot with him. Like I said again, I've got no problem with anybody on this team. That's the front office again, I'm just a player for the Knicks."

Jarrett Jack is also a buyout candidate and, according to a source, has garnered some interest from playoff teams. Although Jack has been cut out of the rotation for the sake of a youth movement, he is also said to be happy with the organization and his role mentoring the young point guards. Jack, 34, has spoken publicly about his desire to become a coach after he retires.

"He's a great pro," Hornacek said. "He understands the situation with our three young guards and if you're sitting anywhere near the bench you'll hear him all game talking. ... He's like another coach out there."